A Preliminary Environmental and Market Scan
Can this be completed within 3 days?
Conduct a preliminary environmental. and market scan.
Within the Discussion Board area, write 400–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
Complete the following:
Identify and explore 3 business Web sites that do something similar to what you hope to do. These businesses may provide the same product or service as you, or they may provide a different product or service that fills the same consumer need. Respond to the following questions:
- Who are their customers (geographic, demographic, psychographic, and behavioral attributes)?
- Are the customers of these businesses similar, or are they reaching different segments?
- How are these customers similar to the customers you hope to reach?
Answer preview
Soon I hope to have a successful business in the food and beverage industry. The three companies I identified are Nestle, Coca Cola, and PepsiCo, who are all producers of different beverages for varied consumer groups. Geographically, all three companies are multi-national firms which operate in different countries worldwide and have their headquarters in the United States. In demographics, their customers are from different age groups. For example, Nestle manufactures products for both adults and infants; Coca-cola and PepsiCo sell their products to adults and children but not infants. Based on their marketing campaigns, all three companies aim at reaching out to people…
(500 words)